After the close with Allan
The markets reverted to ongoing fears of hot inflation and rate hikes Tuesday and sold off most sectors except energy. On Wall Street, the S&P closed -2.01%, the Nasdaq -2.98% and the Dow -1.56%. Gainers: Hess up 5.67%, Diamondback Energy […]
The trading week began with energy and materials lifted the TSX higher by 1.14% to nearly 19,300, but the American indices losing a little ground. Big movers were Vermilion Energy by 11.67% on an upgrade, Suncor 3.16%, Canadian Natural Resources […]
A marginal improvement in U.S. inflation data inspired a strong market rally in New York as well as Toronto which pushed the indices into the green for the week. The S&P closed 3.06% on Friday and 6.5% for the week, […]
Weak commodity prices, driven by recessionary fears, pressured the TSX on Thursday. The Canadian index closed below 19,000 and shed 1.51%. WTI oil fell 2% to $104 and copper sank 5%. Energy and materials suffered major losses: Suncor -6.31%, Cenovus […]
Fears of a recession depressed crude oil prices and in turn pressured markets on Wednesday. WTI sank 4% to $105 and WCS lost 3.8% to slip to $87. That pushed the TSX down by 1.13% as consumer stamples also weighed […]
Markets were hot on the first day of summer, Tuesday. Wall Street returned from a long weekend to rally. The S&P rose 2.45%, the Nasdaq 2.51% and the Dow 2.15%. Energy stocks led the climb though WTI advanced by only […]
With Wall Street closed for the new Juneteenth holiday, the TSX rallied Monday across the board and closed up 1.25% at session highs, rebounding after sliding 6% last week in its worst week since march 2020. Telcos, staples and real […]
Volatility reigned yet again as markets closed the week decidedly mixed. The S&P closed Friday up 0.21% and Nasdaq modestly rebounded by 1.43%, but the Dow finished -0.14% and the TSX -0.39% as oil prices slid on recession fears. For […]
On Wednesday afternoon, the U.S. Fed’s Jay Powell announced a 75-basis point hike in interest rates and offered dovish comments about inflation. The street expected that move and reacted by buying. Though off the session highs, the S&P closed -1.46% […]
Tuesday markets in Toronto and New York were mixed following Monday’s rout which saw the TSX enter a correction and New York’s indices a bear market. The S&P closed -0.37%, the Nasdaq 0.32% and the Dow -0.5% after opening in […]
Call it Gloomy Monday. Both stocks and cryptos tanked in a deep sell-off driven by hot inflation numbers and ongoing fears of a recession right before the U.S. Fed meets this week to hike interest rates. The S&P closed -3.88% […]
The latest U.S. CPI numbers were released Friday morning and came in slightly higher than expected. As expected, markets slid and stayed consistently low throughout the session. The S&P ended -2.91% below 4,000 points, the Nasdaq -3.52% and the Dow […]
Wednesday’s pessimism extended into Thursday as oil and stocks both sank, though oil regained some ground. Otherwise, investors are waiting for Friday morning’s key American CPI data. On Wall Street, the S&P closed -2.38%, the Nasdaq -2.75% and the Dow […]
As markets await Friday’s U.S. inflation numbers for may, investors largely took back Tuesday’s gains on Wednesday. The S&P shed over 1%, the Dow closed -0.81% and the Nasdaq -0.73%. The U.S. 10-year yield returned above 3% while Bitcoin slipped […]
China continues to ease its lockdown restrictions, which helped lift markets on Tuesday. Unlike Monday’s session, Tuesday saw stocks close on strength. The Nasdaq and S&P gained nearly 1%, the Dow 0.8% and the TSX up 0.52% driven by higher […]
Following Friday’s sell-off, Monday markets rebounded on news that China was easing its strick Covid lockdowns. Though stocks were higher intraday, they closed positive: the S&P 0.31%, the Nasdaq 0.4% and the Dow flat by climbing 14.5 points. The U.S. […]
North American markets ended the day on a low note this Friday. The TSX closed -1.15% to 20,791, the S&P 500 -1.64% to 4,108, and the Nasdaq -2.47% to 12,013. This doesn’t quite wipe out the gains of yesterday for […]
Markets got a bit of a lift this Thursday in both Canada and the US. It follows comments from the Federal Reserve Vice Chair Lael Brainard suggesting the Central Bank may not pause in September. The next test for the […]
North American markets finished trading in negative territory this Wednesday. The TSX was a bit undecided today and closed just slightly down at -0.08% to 20,714. The S&P closed -0.75% to 4,101, and the Nasdaq -0.72% to 11,994. They are […]
American markets were closed yesterday for Memorial Day and were close to making back their 8 weeks losses, but Tuesday marked the comeback of a down day for North American markets. The TSX closed -0.91% to 20,729, the S&P -0.62% […]
Thursday was the fifth day of gains in a row in Toronto. The TSX went up 0.73% to 20,532. It is now getting closer to making back its losses for the year. US markets continued their rise as well. The […]
Minutes from the fed’s meeting earlier this month show most of its officials anticipate half-point hikes at the next couple of meetings. They agreed that the economic outlook is highly uncertain. North American markets had a positive Wednesday. The S&P […]
American markets fell further on Tuesday as the selling continued to impact technology stocks. The S&P closed -0.79% to 3,942 the Nasdaq -2,35% to 11,264. The TSX rose 0.44% to 20,286 as financial and energy stocks rallied. Triggering the avalanche […]
China cut a key lending rate to revive its economy, sluggish due to strict lockdowns. This news kicked off a rally in Europe, Asia and North America, but stocks then plunged in New York and Toronto before rallying hard in […]
Thursday saw another choppy session with stocks swinging between negative and positive, though Canadian markets ended higher. The TSX rose 0.47% as materials and tech rallied even further than energy. Major movers were ATS Automation jumping nearly 12%, Lightspeed soaring […]
